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255 S Lasky Dr
0.93 Acres of Commercial Land for Lease in Beverly Hills, CA 90212
Highlights
- Prime Beverly Hills redevelopment site, an "island" of land
- Very walkable, excellent location near the Beverly Hills Golden Triangle
- Exceptional income demographic: 2027 projected average household income is $258,538
- World Renowned City with luxury amenities
- Excellent public school system
- Strong multifamily demand drivers, Beverly Hills multifamily submarket rents and per unit sale prices significantly outperform those of LA Metro
Lot Available
Display Rental Rate as
| Rental Rate |
|
Lot Size | 0.93 AC |
| Lease Term | Negotiable |
| Rental Rate | |
| Lease Term | Negotiable |
| Lot Size | 0.93 AC |
CBRE, as exclusive agent on behalf of The Beverly Hills Unified School District (“District”), is seeking offers (“Offers”) from qualified developers (“Developers”) who are interested in entering into a long-term ground lease to redevelop the property located at 255 S. Lasky Drive ("Property") in world-renowned Beverly Hills, California.
Situated in one of the most desirable cities across the globe, the Property’s current improvements consist of ±41,606 gross square feet of office space currently utilized, among other things, as the District’s administrative offices. The District will relocate these uses to another location, which will allow for Developers to pursue redevelopment of the ±40,560 square foot (±0.93-acre) site as potentially a ±63-unit residential property.
The District met with representatives of the City's Planning Department in January 2023 to discuss its desire to ground lease the Property on a long-term basis to a Developer. Although the Property is currently zoned for school use, the City indicated that there is a process to move forward a request to construct housing on the site through a zone change request to the City Council. The properties located directly to the west and east of the site are currently zoned ‘R-4 Multiple Residential Zone’. The Property is a triangular-shaped “island”, bordered by three streets, S. Lasky Drive, S. Moreno Drive and Young Drive. The neighboring properties are zoned as High Density Multifamily Residential, allowing for ±50 dwelling units per acre (base units) and ±68 units with the State Density program. The District anticipates giving a Developer time to secure the approval for a residential development before the lease payments would commence.
For additional information, visit: www.LaskyBeverlyHills.com
Offer Guidelines are provided on page 15 of the Offering Memorandum.
Property Overview
The Property boasts a Walk Score® of 86 out of 100 – "Very Walkable" – and is proximate to the Beverly Hills Golden Triangle, best known for its high-end shops on Rodeo Drive. The Property’s superb location affords it easy access to Century City and other key local employment centers including West Los Angeles, Culver City, West Hollywood and Mid-Wilshire/Miracle Mile. Well known for its excellent public schools, the Property benefits from being located in Beverly Hills, where the public schools are academically competitive with the top private schools in the area. Located approximately seven miles from the Pacific Ocean, Beverly Hills encompasses some of the most exclusive, private luxury residences in the world, with home and rental prices among the highest in greater Los Angeles and the United States.
PROPERTY FACTS
| Property Type | Land | Proposed Use | Apartment Units |
| Property Subtype | Commercial |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
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255 S Lasky Dr
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